The Board of Directors have approved the un-audited Quarterly Financial Statements of the Chrome Silicon Limited for the quarter/half year ended 30.09.2025.
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Chrome Silicon Limited (formerly VBC Ferro Alloys Ltd) reported a loss of ₹300.08 lacs for Q2 FY26 and ₹514.58 lacs for H1 FY26, slightly better than the ₹872.43 lacs loss in H1 FY25. Revenue from operations collapsed to just ₹28.95 lacs in Q2 FY26 from ₹1,080.58 lacs a year ago, because the company has temporarily shut down its Ferro Alloys manufacturing plant since 30 May 2025 due to weak market conditions. Total income of ₹478.23 lacs in H1 FY26 was almost entirely other income (interest), not from operations. The auditor issued a qualified review report flagging non-compliance with Ind AS 19, unrecovered interest-free loans and advances of ₹310.20 crores, lack of physical verification of inventory and fixed assets, and unconfirmed trade payables. Cash balance is only ₹16.05 lacs, with negative operating cashflow of ₹437.70 lacs, and the company is relying on borrowings to stay afloat.
Operations remain suspended, revenues are near zero, losses continue, and the auditor has flagged serious concerns around asset quality and accounting compliance. Shareholders should treat this stock as a high-risk situation with potential going-concern issues, and short-term price action is likely to remain weak until plant operations resume.